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Energy Ministry, reaction to CEZ Romania sale: New incentive will be well received by market
The Romanian companies' offer to take over CEZ Romania was substantiated on commercial bases and a new incentive will be welcomed in the market, said Dan Dragos Dragan, the secretary of state in the Economy Ministry.
He participated in the Natural Gas Forum, organized online by Financial Intelligence.
CEZ Group approved the sale of its stock in Romania to funds administered by Macquarie Infrastructure and Real Assets (MIRA), the company announced on October 23.There was also an offer made by Romanian state companies Hidroelectrica, Electrica and SAPE, in consortium.
The active stock involved in the transaction consisted of 7 companies, including the electric energy distribution network, electricity supply and the biggest wind park in Europe – Fantanele-Cogealac. The conclusion of the transaction will be approved by the Antitrust European Authority and the Supreme Defense Council of the Country.
CEZ remains active in Romania, developing a portfolio of energy services. The sale of CEZ stock in Romania to funds managed by MIRA was approved by CEZ Group Council 13 months after initiating the sale process. CEZ Group and MIRA reached a sale accord about the three business segments included in the transaction: electricity distribution, energy supply and the operational portfolio for renewable energy. The seven companies included in the transaction are: Oltenia Energy Distribution, Ovidiu Development, Tomis Team, MW Team Invest, CEZ Sales, TMK Hydroenergy Power and CEZ Romania. CEZ Group remains active in Romania, concentrating on energy trading (CEZ Trade) and energy services (High-Tech Clima)” the press release shows.
CEZ Group Romania is represented by nine companies: Energy Distribution Oltenia, CEZ Romania, CEZ Sale, CEZ Trade, CEZ ESCO Romania, Tomis Team, MW Invest, Ovidiu Development and TMK Hydroenergy Power.
The company has been present in the Romanian market since 2005, when Electrica Oltenia was taken over. After unbundling activities successfully concluded in 2007, Energy Distribution Oltenia (former CEZ Distribution) supplies electricity to seven counties: Arges, Dolj, Gorj, Olt, Teleorman and Valcea.
CEZ Sale is the main electricity supplier in the south-west of Romania, and natural gas supplier with a home and industrial customer portfolio exceeding 1.4 million clients.
CEZ Group owns in Romania the largest dry land win park in Europe in Dobrogea area, at Fantanele, Cogealac and Gradina. The Wind Park meant an investment of 1.1 billion euros and includes 240 wind turbines with an installed power of 600 MW. The whole capacity of CEZ Wind Parks was commissioned at the end of 2012.